First time buyer - Ryan Homes - Overwhelmed.

Tried looking around the web and could not find a good forum so I am coming back to this comunity to get some help. Sorry if this is not the right place to post, kindly let me know of a good forum where ic an get help and then delete this post.

So we are first time buyers and went to a communty in Delaware built by Ryan Homes.

The rep asked us a few questisons and did a quick calculations and told us that we quality based on the the info we gave. he also todl us that to get the incentives we have to finance through NVR and the rate he todl us was 3.25% which I think is fine.

But I wanted to knwo if some of you experts have dealt with ryan homes and thier mortagage, also can you negotiate on the options. We added aroudn $35,000 of options.

We though that our realtor need sto be replaced as she did not negotiate at all, when we came out and asked her she said that ohh well they are giving a pretty good incentive (sun room part of theincentive/special) so at most we might ebable to be able to negotiat eonly $10,000 or so.

I came back home and did some quick search and found out that a lotof people have been abel to negotiate most or all of their options some costing $25-$35,000. i also foudn from my search that you should put all the options and then make an offer, and when they come back you shoudl counter witha lower offer and usually they come back witha lower price.

Can anyone who has dealt with Ryan homes tell me what exactly the steps are shodul you make the low offer the first time you make the offer or once they come back to you with their offer.

So, my questions is shoudl be get another realtor? shoudl we negotiate on or own or get a more aggresive realtor?

Also, he said that our Mo payments would be around $2000, but with tax deductions its almost will be $200 less.

So I am looking to get some expert advice from you guys on getting some tips as to how to preceed and what things to keep in mind as a new home buyer.

Re: First time buyer - Ryan Homes - Overwhelmed.

There seem to have been a few post concerning Ryan Homes lately...I wouldn't recommend negotiating by yourself but if you are unhappy with your realtor you can find a new one or go to the principle broker.

Re: First time buyer - Ryan Homes - Overwhelmed.

I am currently under contract with Ryan Homes in DC Metro Area. I don't know about negotiating because the development were moving into has been selling as a good clip so they were offering no discounts at all. In fact we were told they will most likely raise the prices on the next phase of development. One word of suggestion I would give is to find your own outside lending. NVR Mortgage is loaded with fees and probably .50% higher than what you can find out there as far as mortgages. They told my wife and I if we found a better deal than what NVR was offering and they couldn't match it, they would still give us the seller's closing assistance. Although our contract says the exact opposite so we'll see. You will soon have to do a mortgage app with NVR within 7 days of signing the contract on your new house. Be sure to read the HOA documents as well. We bought a condo and the HOA fees are $150 per month. For a townhouse I think it's around $70 or so.

I wouoldRe: First time buyer - Ryan Homes - Overwhelmed.

I would first advice you to do a tax prep and see how it woud change. It used to be you could only take interest on a primary hone by filing schuale A and giving up up your standard deduction. Getting a $2400 deduction VS a 5700 deduction is a huge differance.

Re: I wouoldRe: First time buyer - Ryan Homes - Overwhelmed.

Just signed a purchase agreement on the 13th as well with Ryan homes. They ran my credit and my scores are around 624 mid with high credit card utilization (90%). Va loan requires 620 mid. Meeting with the loan officer soon to fill out the mortgage app. I'm already stressing.

Re: I wouoldRe: First time buyer - Ryan Homes - Overwhelmed.

The actual mortgage application isn't bad. Like I said, the only thing that concerns me is the .50% rate increase as well as all the fees. NVR is just a mortgage broker and will most likely sell your loan before the ink is dry. When you go to app for your mortgage you will sign a sheet of paper that states NVR doesn't service loans.

Re: First time buyer - Ryan Homes - Overwhelmed.

I can't speak to Ryan homes, but we purchased a Richmond American home in May and the asking price was $276k, we only added $800 in upgrades (we were already at the top of our budget and didn't need to add more especially because the home is beautiful!) and we closed at $271,500. That included our upgrades and around $7500 in closing costs. Our development was also selling quickly, in fact we are full now. Someone down the road in our same model, closed at $275k. They did not have any upgrades at all that we could see.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair
organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or
assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.